5 Best CBD Stocks To Buy Now

4. WM Technology, Inc. (NASDAQ:MAPS)

Number of Hedge Fund Holders: 15

WM Technology, Inc. (NASDAQ:MAPS) is a California-based provider of e-commerce and compliance software solutions to retailers and brands in the cannabis industry worldwide, including in the United States and Canada. Its offerings include the Weedmaps marketplace, which allows cannabis consumers to search for and view products from retailers and brands, and reserve products from local stores. Additionally, WM Technology, Inc. (NASDAQ:MAPS) provides information on cannabis and the industry, as well as advocacy services for legalization. It is one of the best marijuana stocks to monitor. 

On November 8, Canaccord analyst David Hynes reiterated a Buy rating on WM Technology, Inc. (NASDAQ:MAPS) but lowered the firm’s price target on the shares to $4.75 from $6. The analyst noted that data from California, which accounts for more than half of the company’s business, showed a 10% decrease in licensed sales in the quarter. Despite the difficult market conditions, Hynes stated that WM Technology, Inc. (NASDAQ:MAPS) was able to maintain a stable performance year-over-year.

According to Insider Monkey’s data, 15 hedge funds were bullish on WM Technology, Inc. (NASDAQ:MAPS) at the end of Q3 2022, compared to 14 funds in the earlier quarter. Richard Mashaal’s Rima Senvest Management is the largest stakeholder of the company, with 7.35 million shares worth $11.8 million.